Short Selling Issues Addressed in Intertain and Betsson Statements

Intertain and Betsson released public statements addressing "misleading and self-serving" information from short sellers. Intertain commented on a December 17, 2015 report from Spruce Point Capital Management LLC saying that it had created a short position in Intertain's common shares before publishing the report and could see a significant profit if the stock value plummets. "Intertain has established a committee of non-management directors to closely review the allegations contained within the Spruce Point report," says Intertain's statement. "Following that review, the company will take any and all actions necessary and appropriate to protect the interests of the company and its shareholders." A statement from Betsson on Fridays said: "In July 2015 Betsson acquired the Georgian privately owned gambling operator Europe-Bet by acquiring the company Chempionebi 111 LLC. "An anonymous document which contains false information and fictitious facts about the transaction is now circulating, most likely to defame Betsson. "Betsson has reasons to believe that an individual, with the aim of earning personal financial gains by short selling the Betsson shares, wants to discredit the company. This is something Betsson takes very seriously, especially as the company has many small shareholders. "The acquisition of Europe-Bet has been carried out after thorough due diligence, and a special investigation has been conducted on the sellers. Neither of the studies resulted in findings that were against the acquisition," the betting company notes in its statement. Betsson has taken steps to correct the information presented in the documents and has contacted Stockholm Stock Exchange and the Swedish Financial Supervisory Authority. Betsson communications chief Malin Sparf Rydberg said, "Betsson is now examining the possibilities to take legal actions against the author of the document and against the fund that distributes this document in order to manipulate the share price for their own gains.”